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By *xccvvMan
over a year ago
Yorkshire North East |
Its unusual for some one not to have a driving licence and passport but not uncommon, in this instance there is a form the lender, broker will get you to fill in to ID yourself by a Police officer, Doctor or some one of that ilk who knows you, you also need a utility bill dated last 3 months at your current address, bank statement, phone bill (not mobile) ect
regarding the timber framed property, like said earlier you may get a lender now but if and when you come to sell you may have problems finding a buyer as they will be in the same position as you now finding a mortgage
Since April 2014 and the new mortgage rules (MMR) lending has changed, guidelines set out by the regulator have made it harder, if applying for a mortgage or a new rate reduce your limit on any cards, yes limit, you may have a limit of say £9000 on a card but have a balance of £300, the lender will take the £9000 as a debt, as after the mortgage completes you could go out and max the card out, so if you dont need a £9000 limit reduce it to a lot less, do this a few months before applying so it shows on system, or get rid of any cards you really dont need, this includes Catalogues and other such items
Also if you clear your card balance every month, lets say you rack up £280 and then clear it, and you do this every month the lender will take the £280 a month as a commitment, if you say dont clear it all each month they will only take around 3-4% of the balance as a monthly commitment, big difference in payment taken as a commitment
If you have 3 kids only tell them you have 1 or 2 kids makes a difference on monthly budget, dont be to honest with regards of your spending, it works against you
There are millions of mortgage prisoners in this Country who cannot move due to the new rules, the regulator didnt want it to be like this and have asked lenders to look into their own mortgage book, have a little bit of sympathy with lenders on this as its dammed if you do dammed if you dont, if lenders relax the rules and there are problems down the line they have left themselves open to a complaint being upheld, also the claims companies, and there are many of them, are flying above waiting to pounce |
